{"id":15012,"date":"2023-09-23T02:36:41","date_gmt":"2023-09-23T02:36:41","guid":{"rendered":"https:\/\/mysourcefunding.com\/leadership\/how-tech-can-help-companies-harness-data-and-reimagine-their-business\/"},"modified":"2023-09-23T02:36:43","modified_gmt":"2023-09-23T02:36:43","slug":"how-tech-can-help-companies-harness-data-and-reimagine-their-business","status":"publish","type":"post","link":"https:\/\/mysourcefunding.com\/?p=15012","title":{"rendered":"How Tech Can Help Companies Harness Data And Reimagine Their Business"},"content":{"rendered":"
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The digital age has ushered in a transformative shift in the way companies ingest, store and analyze data. This has led to an extraordinary proliferation of data across all operational facets.<\/p>\n

This abundance of data has paradoxically given rise to a pressing issue \u2014 data fragmentation within organizations. Valuable data resides in silos across business functions and systems, making it a challenge to synthesize and transform into actionable insights. This disjointed data landscape poses a variety of business challenges, but it is especially problematic for organizations that aim to optimize business outcomes and align their operations with environmental, social and governance (ESG) commitments.<\/p>\n

Meanwhile, some companies have started gathering specific ESG data \u2014 particularly that related to greenhouse gas (GHG) emissions \u2014 in preparation for proposed regulations that seek broader climate and environmental sustainability disclosures, such as the forthcoming SEC scope 3 emissions disclosure and the EU\u2019s Corporate Sustainability Reporting Directive (CSRD). But you shouldn\u2019t view such requirements solely as a compliance exercise.<\/p>\n

Leveraging technology to help you efficiently mine the information needed for current and future disclosures allows you to ground decision-making in real-time data. Other benefits include a more complete view of overall business operations and performance, as well as the ability to glean valuable insights about how to adjust corporate strategy to help drive long-term growth.<\/p>\n

The urgency of climate action<\/strong><\/h2>\n

There\u2019s no time to waste. The risks associated with climate change, ecosystem degradation, and resource scarcity are becoming more real every day, with 18 separate weather and climate disasters in 2022, each of which cost $1 billion in damage. At the same time regulators, investors and other stakeholders are putting pressure on companies to disclose how these issues impact the business.<\/p>\n

Corporate ESG initiatives typically cut across multiple functions and platforms that don\u2019t necessarily work together or make it easy to get an integrated picture of all the relevant data. In PwC\u2019s 2022 Digital Trust Insights survey, 77% of respondents said their data infrastructure has \u201cunnecessary and avoidable\u201d complexity.<\/p>\n

But in our most recent Pulse survey fielded in August, more executives said they plan to embed new technologies into their business model than any other strategic priority over the next three to five years. Specifically, 59% of all US business leaders plan to invest in new technologies such as cloud or artificial intelligence (AI) in the next 12 to 18 months. At the same time, half of all leaders surveyed said climate change poses a serious or moderate risk to their company.<\/p>\n

Amazon Web Services (AWS) offers a broad and deep set of cloud-based capabilities in AI, machine learning (ML), Internet of Things (IoT) and data analytics that can help companies of sizes and across multiple sectors build and implement ESG solutions to automate decision-making, identify and create new business models, and unlock and amplify innovation to meet their sustainability goals.<\/p>\n

Sustainability encompasses the capacity to create-long term value through comprehensive focus on ESG factors. But it takes coordinated effort and help from technology solutions that allow you to:<\/p>\n